SINGAPORE: China\u2019s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted coal while Western countries shunned Russian cargoes over its invasion of Ukraine. China brought in 7.42 million tonnes of coal from Russia last month, data from the General Administration of Customs showed on Saturday. That was the highest monthly figure since comparable statistics began in 2017, up from 6.12 million tonnes in June and 6.49 million tonnes in July 2021. Western countries were avoiding cargoes from Russia ahead of a European Union ban on Russian coal that came into force on Aug. 11, aimed at reducing the Kremlin\u2019s energy revenue over its February invasion. The ban has forced Russia to target buyers such as China and India and sell at a steep discount. Russian thermal coal with a heating value of 5,500 kilocalories (kcal) traded around $150 a tonne on a cost-and-freight basis in late July, while coal of the same quality at Australia\u2019s Newcastle port was assessed at more than $210 a tonne on a free-on-board (FOB) basis. News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
SINGAPORE: China\u2019s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted coal while Western countries shunned Russian cargoes over its invasion of Ukraine. China brought in 7.42 million tonnes of coal from Russia last month, data from the General Administration […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-278618","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n